Chapter 15: Enterprise Applications Flashcards Preview

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Flashcards in Chapter 15: Enterprise Applications Deck (19)
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1
Q

Enterprise Resource Planning (ERP) Software

A

Built around thousands of predefined business process that best suits your company.

Types: cloud (just pay per users and amount of space you need per year or month), in premise (huge initial investment)

2
Q

Supply Chain

A

A network of organizations and business processes for procuring raw materials, transforming these materials into intermediate and finished products, and distributing the finished products to customers

3
Q

Just-in-Time Strategy

A

If a manufacturer had perfect information about exactly how many units of product customers wanted, when they wanted them, and when they could be produced, it would be possible to implement a highly efficient just-in-time strategy. Components would arrive exactly at the moment they were needed and finished goods would be shipped as they left the assembly line

4
Q

Bullwhip Effect

A

Further down supply chain, more variability in demand/production there is

Information about the demand for a product gets distorted as it passes from one entity to the next across the supply chain

5
Q

Supply Chain Planning System (Program)

A

Enables the firm to model its existing supply chain, generate demand forecasts for products, and develop optimal sourcing and manufacturing plans

6
Q

Demand Planning

A

Determines how much product a business needs to make to satisfy all of its customers’ demands

7
Q

Supply Chain Execution System (Program)

A

Manages the flow of products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner

8
Q

Push-Based Model

A

Production master schedules are based on forecasts or best guesses of demand for products, and products are “pushed” to customers

9
Q

Pulled-Based Model

A

Also known as a demand driven model or build-to-order, actual customer orders or purchases trigger events in the supply chain

10
Q

Touch Point

A

When you “touch base” with the consumer for the first time. Also known as contact point is a method of interaction with the customer, such as telephone, email, customer service desk, conventional mail, website, wireless device, or retail store

11
Q

Customer Relationship Management (CRM) Systems

A

Capture and integrate customer data from all over the organization, consolidate the data, analyze the data, and then distribute the results to various systems and customer touch points across the enterprise

12
Q

Partner Relationship Management (PRM)

A

Uses many of the same data, tolls, and systems as customer relationship management to enhance collaboration between a company and its selling partners

13
Q

Employee Relationship Management (ERM)

A

Deals with employee issues that are closely related to CRM, such as setting objectives, employee performance management, performance-based compensation, and employee training

14
Q

Cross-Selling

A

The marketing of complementary products to customers

15
Q

Operational CRM

A

Includes customer-facing applications, such as tools for sales force automation, call center and customer service support, and marketing automation

16
Q

Analytical CRM

A

Includes applications that analyze customer data generated by operational CRM applications to provide information for improving business performance

17
Q

Customer Lifetime Value (CLTV)

A

Based on the relationship between the revenue produced by a specific customer, and the expenses incurred in between the customer and the company

18
Q

Churn Rate

A

Measures the number of customers who stop using or purchasing products or services from a company

19
Q

Service Platform

A

Integrates multiple applications from multiple business functions, business units, or business partners to deliver a seamless experience for the customer, employee, manager, or business partner

Brings together a bunch of information from all resources employed in company in order to make a seamless business experience for all involved (customer -> suppliers, and everything in between).